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Pensions
Annual allowance |
2024/25 |
2023/24 |
2022/23 |
|
Member contribution allowance (higher of 100% UK taxable earnings or) | £3,600 | £3,600 | £3,600 | |
Maximum allowance | £60,000 | £60,000 | £40,000 | |
Threshold income limit | £200,000 | £200,000 | £200,000 | |
Adjusted income limit | £260,000 | £260,000 | £240,000 | |
Minimum tapered allowance | £10,000 | £10,000 | £4,000 | |
Other allowances |
2024/25 |
2023/24 |
2022/23 |
|
Standard lifetime allowance | Unlimited | £1,073,100 | £1,073,100 | |
Money purchase annual allowance | £10,000 | £10,000 | £4,000 | |
Lump sum on retirement tax-free allowance | 25% | 25% | 25% | |
Tax charges on payments above the allowance |
2024/25 |
2023/24 |
2022/23 |
|
Lifetime allowance - if the amount over the allowance is paid as a lump sum | N/A | Marginal rate | 55% | |
Lifetime allowance - if the amount over the allowance is not paid as a lump sum | N/A | Marginal rate | 25% | |
Annual allowance | Marginal rate | Marginal rate | Marginal rate |